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Category: International

Liebherr launches electric excavators 1 Equipment & Technology International Mining technology 

Liebherr launches electric excavators

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German-Swiss equipment manufacturer Liebherr has launched new electric excavators, the 90t R 976-E electric crawler excavator and the 100t R 980 SME-E. The excavators are not converted diesel machines but feature an electric power system produced entirely by Liebherr, noted the company. The excavators, which replace the ER 974 B for mine and quarry extraction, were produced by Liebherr-France SAS in Colmar, France and are available in backhoe and shovel versions. “They stand out for their low noise level, optimum versatility and zero CO2/greenhouse gas emissions during operation,” said the… Read More Here
Iron ore price back above $170 as China steel hits record 2 Iron Ore International 

Iron ore price back above $170 as China steel hits record

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Iron ore prices rose on Tuesday, boosted by strong Chinese demand. According to Fastmarkets MB, benchmark 62% Fe fines imported into Northern China (CFR Qingdao) were changing hands for $170.90 a tonne, up 1.43% from the previous trade. China’s steel prices also jumped to record highs, on concerns over supply curbs in the world’s biggest producer and exporter of construction and manufacturing material. Construction steel rebar’s May contract on the Shanghai Futures Exchange ended the daytime trading session 2.1% higher at 5,180 yuan ($791) a tonne, after earlier climbing to… Read More Here
Gold price on track for highest close in 6 weeks 3 Gold International 

Gold price on track for highest close in 6 weeks

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Gold prices advanced to their highest in more than a week on Tuesday as gains in bond yields and the dollar abated. Spot gold saw a gain of 0.9% to $1,743.80 an ounce by 12:25 p.m. EST. Gold futures also advanced 0.9% to $1,745.30 an ounce in New York. Should it close at its intraday high of $1,746.70, it would be the highest close in nearly six weeks. In the meantime, treasury yields edged down from a recent high, increasing the allure of bullion, which yields no interest. The dollar… Read More Here
Gold price steadies as US jobs report fuels recovery optimism 4 Gold International 

Gold price steadies as US jobs report fuels recovery optimism

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Gold prices steadied during the holiday-thinned trading session on Monday as robust US jobs data fueled hopes for a rapid economic recovery and bolstered global equities, suppressing bullion’s appeal. Spot gold saw a slight gain of 0.1% to $1,731.80/oz by 11:40 a.m. EST, while US gold futures rose 0.2% to $1,732.20/oz. An earlier report showed that employers in the US added the most jobs in seven months during March, as more coronavirus vaccinations and fewer business restrictions bolstered labor market recovery. Non-farm payrolls increased by 916,000 from February, according to a Labor Department… Read More Here
Saudi Arabia of cobalt: Congo eyes battery-metal price power 5 Mining in DRC Battery Metals Cobalt International 

Saudi Arabia of cobalt: Congo eyes battery-metal price power

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Democratic Republic of Congo, the world’s main source of vital battery ingredient cobalt, is also one of the poorest nations. And while it’s dominated by huge industrial mines, about a fifth of its silvery-blue metal is still hand-dug, in often unregulated and dangerous conditions. Jean-Dominique Takis Kumbo, the head of the new state cobalt buyer, is determined to change that. His Entreprise Generale du Cobalt will have a monopoly on all hand-dug cobalt in the central African country, giving it power to improve working conditions and potential control of nearly… Read More Here
Barrick Gold CEO Says Its Dividend Is ‘Sustainable’ 6 Gold International 

Barrick Gold CEO Says Its Dividend Is ‘Sustainable’

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Barrick Gold CEO Mark Bristow says the company will be smart about any acquisitions and that its quarterly dividend of 9 cents a share is “sustainable” even if gold prices, now at $1,729 an ounce, decline to $1,200. In an interview with Barron’s, Bristow said that Toronto-based Barrick (ticker: GOLD), which shares leadership of the gold industry with Denver-based Newmont (NEM), has “the industry’s best assets, strongest balance sheet with no net debt, and the best people.” Barrick shares are down 10% this year to around $20 as gold prices… Read More Here
Copper price jumps as Chile close its borders 7 Copper International 

Copper price jumps as Chile close its borders

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Copper price jumped on Monday as investors assessed a decision by Chile to close its borders during April. Copper for delivery in May was up 2.96% by midday, with futures at $4.1075 per pound ($9,035 a tonne) on the Comex market in New York. The world’s top exporter of the metal closed its borders for a month as reported a daily Covid-19 record of 7,830 infections last week, an all-time high for occupied hospital beds, and a nationwide positivity rate of 11%. Chilean citizens and foreign residents are forbidden from entering or… Read More Here
Gold price bounces back, but set for another monthly loss 8 Gold International 

Gold price bounces back, but set for another monthly loss

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Gold prices clawed back on Wednesday, boosted by a weaker dollar, but are still on pace for a third consecutive monthly loss, as elevated US bond yields dented the haven metal’s appeal. Spot gold rebounded 1.2% to $1,705.91 an ounce by 11:45 a.m. EST, having earlier touched a three-week low of $1,677.61. In New York, gold futures rose 1.1% to $1,704.30 an ounce. The good news for gold investors is that the US dollar edged off a near five-month peak. International Monetary Fund data showed that the dollar’s share of global currency… Read More Here
Epiroc to acquire Meglab as part of battery-electric mining equipment push 9 Equipment & Technology International Mining technology 

Epiroc to acquire Meglab as part of battery-electric mining equipment push

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Epiroc has agreed to acquire Meglab, a Canada-based company with expertise in providing electrification infrastructure solutions to mines, as it looks to further support mining customers in their transition to battery-electric vehicles. Meglab, based in Val-D’Or, Quebec, Canada, is a technology integrator that designs, manufactures, installs and supports practical and cost-effective electrification and telecommunications infrastructure solutions to customers in several countries. Its products and solutions include system design, substations, switchgears and automation system solutions, enabling the infrastructure needed for mine electrification and equipment charging solutions, as well as for digitalisation… Read More Here
Copper price below $4 as investors wait for US bill 10 Copper International 

Copper price below $4 as investors wait for US bill

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Copper prices fell on Tuesday as investors are waiting for details later this week of a large US infrastructure bill that could boost metals demand. Copper for delivery in May was down 1.47% by midday, with futures at $3.97 per pound ($8,734 a tonne) on the Comex market in New York. LME copper was been trading in range-bound for most of March, easing 2% so far this month, as rising exchange inventories and falling premiums in China pressured a price rally that pushed prices to near a record high in February. Scrap China’s imports of… Read More Here

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